Western developed countries also experienced the phase of middle-income trap, of which the root lied in the classical property system. The way for developed countries to go through the middle-income trap was a transition from classical property system into modern property system. The property system of socialism with Chinese characteristics essentially implements the modern property system. It is the basis of the microscopic mechanism for macroeconomic stability, and provides the institutional guarantee for China to cross the middle-income trap. In conclusion, we must insert on taking the path of socialism with Chinese characteristics unswervingly.
|Original language||Chinese (Simplified)|
|Number of pages||7|
|Publication status||Published - 2016|